Toronto Stocks Up; BlackBerry Down Following Earnings –

    By Will Feuer   

Shares trading in Toronto rose modestly midday Wednesday as stocks continued to rebound from the sell-off sparked by fears tied to the spread of the Omicron variant of the coronavirus. Shares in BlackBerry Ltd. fell in midday as the security software provider posted better-than-expected results for its latest quarter, but its guidance for the current quarter fell short of expectations.

Canada’s S&P/TSX Composite Index rose 0.26% to 20,978.85 while the blue-chip S&P/TSX 60 edged 0.26% higher, as well.

BlackBerry shares were down 3.36% at midday. On Tuesday evening, the company posted breakeven adjusted earnings, compared with analyst expectations of a loss of 7 cents a share, according to a FactSet survey of analysts. And while sales fell from the year-ago period, its revenue of $184 million topped analyst expectations of $174 million.

During a call with analysts, the company said it expects revenue from its cybersecurity business to range from $125 million to $135 million. Analysts were projecting $136.6 million. It expects revenue from its Internet of Things business to be between $50 million and $55 million. Analysts were expecting $52 million.


Other market movers:


Shares of Generation Mining Ltd. rose 27.35% in midday trading after the company struck a deal to sell payable gold mined at its Marathon undeveloped platinum group metal mineral deposit in northwestern Ontario to Wheaton Precious Metals Corp.


Write to Will Feuer at


(END) Dow Jones Newswires

December 22, 2021 13:07 ET (18:07 GMT)

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